GS211 Lecture Notes - Lecture 8: Structural Adjustment, Economic Nationalism, Democratic Socialism
Document Summary
Believes form of planning by social democracies leads to dictatorship b/c dictatorship is most effective form of coercion. The guiding principle in any attempt to create a word of free men must a policy of freedom for the individual. Margaret thatcher was a disciple of hayek and reagan took advice from hayekian economists. Hayek completed the neoliberal revolution started by his mentor, von mises. Colleague of hayek at university of chicago. Immediate influence on ronald reagan and the remaking of us international economic policy in a neoliberal turn in 1980s. Government"s role in guiding the economy should be limited to adjusting interest rates. Had a great influence the world bank, and imf. Free markets have not brought about material benefits to the world. Markets are not neutral nor free and favour certain populations and social classes to the detriment of others. Globalization has meant political intervention into development which was seen as a.
